Works great and have been doing it for over 15 years. Works better outside FOREX though when you don't have to deal with time/volume spikes.
So down it is... btw, any futures that went berzerk today around 10:30 was probably due to the bounce off the bottom. <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2814230>
I call a BS on most calls over a long term . . Why? None ever defines a stop . . . Tom said it best . . . it is really hard to make call day trading real time . . . it all depends on price action and how hard that price action is at "that time" . . . all the guys making "long term calls", almost always fail to define a stop, or define a stop that is fairly large for most to be actionable . . . or have a really bad win/loss stat in $ terms . . . To succeed you need to "really see" price action and "really feel" momentum" and that is not going to come without real-time hands-on watching the markets . . . I've had roughly 7yrs of mild struggling and 2yrs of hard core struggling and only now am I beginning to "see the light" . . . For those of you (most of you) that are smarter . . . it should be a shorter ride to "freedom" but I kid you not . . . unless you really "see and feel PA and momentum" day trading will be a hard endeavor . . . I know this seems like non-actionalble mumbo-jumbo . . . but please go through each of my words carefully . . . I assure you there can be nothing more valuable than to know this . . . I will not give away anything, b/c it will not help you . . . If you are smart, look through all of my posts and see where I've been on this forum . . . those posts/threads have been some of my education . . . but that does not preclude you "seeing" when and how money is made day trading . . . GOOD LUCK!